Bitcoin’s price has been experiencing a choppy market condition recently, dampening hopes of a breakout to new highs in the near future. Despite this, there are signs that the current bull cycle may not be over yet, as the premier cryptocurrency seems to be going through a phase of euphoria, according to on-chain observations. This
Bitcoin’s recent inability to break above the $72,983 resistance level has resulted in a downward trend in its price. Despite still trading above the 1-day Simple Moving Average (SMA), the rejection has caused the crypto asset to drop from $71,942 to $66,785 and fall below the SMA in both the 1-hour and 4-hour charts. This
Investor sentiment appears to be growing in the crypto market, with Bitcoin emerging as a major beneficiary of this positive trend. Despite some disappointing price movements, large-scale investors continue to accumulate BTC. Although the cryptocurrency’s price closed below $70,000 at the end of May, it had previously touched this level multiple times in the final
President Joe Biden recently made headlines by vetoing H.J. Res. 109, a resolution aimed at overturning the SEC’s controversial SAB 121 rule. In his explanation for the veto, Biden emphasized that SAB 121 reflects the technical expertise of SEC staff and plays a crucial role in protecting the public. He expressed concerns that overturning the
In a recent analysis, crypto analyst Egrag Crypto has presented two potential scenarios that could lead to a breakout for the XRP price. According to Egrag, the crypto token could surge to as high as $7.5 in the near future. This prediction is based on the revelation that XRP’s Relative Strength Index (RSI) has hit
Crypto analyst Pierre recently shared his insights on why the $69,000 price level is crucial for Bitcoin’s future price action. According to Pierre, if Bitcoin manages to break above $69,000, it could retest the all-time high region of $73,000, potentially paving the way for a new ATH. However, he also warned that Bitcoin must maintain
Near Protocol has experienced a relatively good year in 2024 so far, despite the market’s volatility. However, a recent breakout in the price has led some crypto analysts to believe that the altcoin may be heading towards a bearish trend. The Near Protocol price had formed a wedge pattern earlier in the month of May,
XRP has experienced extended losses, falling below the $0.5220 support level. Despite testing the $0.5120 support and attempting a recovery wave towards $0.550, the cryptocurrency is struggling to surpass the $0.5320 resistance zone. Currently, XRP is trading below $0.530 and the 100-hourly Simple Moving Average, indicating a bearish trend. The hourly MACD for XRP/USD is
BNB price has recently experienced a recovery wave from the $585 support zone. However, to enter a positive zone in the near term, the bulls need to overcome the $600 resistance zone. The price is currently trading below $600 and the 100-hourly simple moving average, indicating a challenging road ahead. After facing resistance near the
Analyst Eric Balchunas from Bloomberg has suggested that US spot Ethereum ETFs could potentially launch in the month of June. He believes that there is a legitimate chance that these ETFs will be available by the end of June, although the possibility of a mid-June launch is considered unlikely at this point. The latest date